Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the City Finance topic
No spam. Unsubscribe anytime.
Powell council hears year-end financial report; sales tax up 1%
Summary
City finance presenter David Humphreys reported an ending cash balance of $866,004.78 and year-over-year sales-tax growth of $45,942 (about 1%) for the fiscal year ending June 30, 2026.
David Humphreys, the city finance presenter, reported the Powell City fiscal-year totals and a modest rise in sales-tax revenue during the council’s July 14 meeting.
Humphreys told the council the year opened with a balance of $483,657, recorded deposits of $3,655,200 and withdrawals of $3,272,003.78, leaving an ending cash balance of $866,004.78. "Our sales tax collection was $1,585,780," he said, noting that compared with June 2025 collections of $1,539,008.38 the city was up $45,942 for the year.
The presenter framed the numbers as resilient given broader economic pressures. "Even with all the fuel prices increase, all the stuff going on in the world today, it's a it's great news for our economy," a council member observed during discussion.
Council members had no further questions and thanked Humphreys for the report. The council moved on to other agenda items after accepting the presentation.
The figures reflect the city’s close of the fiscal year on June 30, 2026; no formal budget adoption or reallocation action was taken during the meeting.
